EFSF to start short-term notes selling program before the end of the year

By IBT Staff Reporter On 12/07/11 AT 7:05 AM

The European rescue fund, known as the European Financial Stability Facility (EFSF), said on Wednesday it will start a short-term selling of 3-,6-, and 12-month notes to add some flexibility to the facility, where this program will not take the place of the long-term bond program. The first auction is expected to take place before the end of the current year, according to Klaus Regling the EFSF Chief Executive.